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Stellar?
From 3.5 billion Reddit comments
➔ Stellar website
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100 reviews of this app found across Reddit:
https://www.stellar.org/blog/usdc-stellar-faq
> What does it mean that USDC is coming to Stellar? The short answer: Circle Internet Financial will issue a USDC asset on the Stellar network. Developers and businesses will be able integrate it into Stellar-based apps and services to allow users to make deposits and withdrawals; users will be able to hold, transfer, and trade USDC just like any other asset on the network.
> Stellar USDC is part of Centre's multi-chain USDC framework: it will coexist and interoperate with various USDC tokens on other chains, including the original Ethereum USDC token. Each chain offers advantages tied to specific use cases. Stellar, which is designed to connect all the world's currencies on a single platform, unlocks a whole new realm of payment-related applications for USDC.
> What is USDC? USD Coin (USDC) is a stablecoin developed by the Centre Consortium, a collaboration between Circle Internet Financial (Circle) and Coinbase. It's a digital asset issued by regulated financial institutions, it's fully backed by reserve assets, and it's redeemable on a 1:1 basis for US dollars.
> What is Centre? Centre is a USDC consortium jointly led by Circle and Coinbase, with a vision of building a standard set of protocols for fiat-denominated digital currencies that can work across different wallets, currencies, and platforms.
> What is Circle? Circle Internet Financial is a global financial technology firm that enables businesses of all sizes to harness the power of stablecoins and public blockchains for payments and commerce worldwide. Circle was founded in 2013 and is backed by $250 million from investors including Jim Breyer (Facebook), IDG Capital (Baidu, Tencent), General Catalyst (Airbnb, Stripe), Accel Partners, and Bitmain, with offices in Boston, New York, Dublin and London.
This is one of the most unique features of Stellar's core protocol (and most misunderstood). There's a lot of talk about the need for 'decentralized exchanges' in the space - but not a lot of people understand that it's built into Stellar's core functionality. The different exchanges you see like StellarTerm, StellarPort, Interstellar, etc all share order books!
For more reading on this you can read our technical documentation: https://www.stellar.org/developers/guides/concepts/exchange.html
Lumenauts has a good explainer video as well: https://www.lumenauts.com/explainers/stellar-decentralized-exchange
Until I see an announcement from SDF, I can’t see this as anything but a scam. There are no staking rewards on stellar, and this style scam has been done before. Maybe it is real, but until announced as such from an SDF official channel, I’d avoid it.
https://www.stellar.org/blog/stellar-security-guide-protect-scammers
This was their 2018 roadmap, that got followed up by another explanation about the Lightning Network.
>To the extent an idea improves what our users care about—speed, throughput, privacy—we will explore it, and since a typical Lightning payment:
>– can be confirmed instantly
>– has negligible fees
>– doesn’t have to become public
>"... it’s now clear that Lightning is the right way forward for Stellar."
It looks like they laid out a plan to fix the 'privacy' concern since January of 2018 and will have it live by December 2018, as per their roadmap.
>Our release timeline for Lightning on Stellar is:
>Apr 1 BUMP_SEQUENCE pushed to a testnet
>Aug 1 State channels beta implementation
>Oct 1 State channels on Stellar livenet + Lightning Network beta
>Dec 1 Lightning Network on Stellar livenet
That is false.
The SDF is entrusted with half of the supply, but can not do whatever it wants with them. The uncirculated lumens have been directed for use purposes which is disclosed. Said directives can be found in its mandate.
After watching the first couple days of Meridian, I'm starting to go down the rabbits hole of companies leveraging Stellar in some way or another. Soooo many companies.
https://www.stellar.org/ecosystem/projects
There were a lot of great projects covered this week. Lightnet is probably the one I'll watch the most since they've received investments from some MAJOR financial institutions.
CEO Denelle Dixon wrote her first blog: https://www.stellar.org/blog/where-we-are-headed/
Good to read that they are ramping up their marcomms 💥
Just reminding everyone about the Stellar Mandate:
https://www.stellar.org/about/mandate/
This document outlines the long-term goals of both the Stellar Development Foundation and the Stellar Network and Protocol:
- SDF Mission and non-profit status;
- Lumens distribution plans;
- XLM total supply;
Inflation is right here at the end of the document as well:
https://www.stellar.org/about/mandate/#Inflation
None of that should be changed or removed without a good reason.
It’s not a matter of superior. Ripple and Stellar aren’t necessarily competitors. Yes, they both have similar ideas of how blockchain technology should progress. However, Ripple focuses heavily on FI use cases, while Stellar focuses on individuals and market accessibility.
This sub has grown a lot over the past couple of weeks and there are a lot of newcomers. With that said, I don’t think some of the newcomers are as welcoming as the people who have been here a while. While you should do your own research, and I’m assuming you are, here are some recent news events that might spark your interest as well as some general information. You might want to go back through the last months posts and read everything that has a lot of upvotes. Also read the AMAs done by the IBM team - the links were in the sidebar last I checked (but I mostly use mobile so I’m not sure anymore).
Read the Welcome post and go to the links within (above the Daily Chat when set to “hot”)
https://medium.com/stellarxhq/announcing-stellarx-7dd62c168c2f
http://fortune.com/2018/06/14/cryptocurrency-stellar-lumens-buy-itbit
https://www.stellar.org/blog/stellar-receives-sharia-compliance-certification-transfers-tokenization
(And look though the whole Stellar.org site)
There is a ton of information right here in the sub. Feel free to ask specific questions. There are a lot of knowledgeable people here willing to help. Just ignore the cranky people.
All awesome points. One slight correction in that Stellar uses Stellar Consensus Protocol (SCP), not proof of stake. SCP is also eco friendly as no mining is involved. 🙂
RCBC / IBM / Stellar Partnership, Oct 15 2017 : "This cross-border payments solution is already processing live transactions in 12 currency corridors across the Pacific Islands and Australia, New Zealand and the United Kingdom. IBM has convened an initial group of diverse banking leaders as part of the development and deployment process, including Banco Bilbao Vizcaya Argentaria, Bank Danamon Indonesia, Bank Mandiri, Bank Negara Indonesia, Bank Permata, Bank Rakyat Indonesia, Kasikornbank Thailand, Mizuho Financial Group, National Australia Bank, Rizal Commercial Banking Corp. (RCBC) Philippines, Sumitomo Mitsui Financial Group, TD Bank, Wizdraw (HK) of WorldCom Finance, and other financial institutions.
“This new innovation and collaboration represents a significant milestone for Stellar as well as the financial technology industry as a whole,” said Jed McCaleb, co-founder of Stellar. “For the first time, public blockchain technology is being used in production to facilitate cross-border payments in multiple integrated currency corridors. Currently, cross-border payments take up to several days to clear. This new implementation is poised to affect a profound change in the South Pacific region, and once fully scaled by IBM and its banking partners, could potentially change the way money is moved around the world, helping to improve existing international transactions and advancing financial inclusion in developing nations.” https://www.stellar.org/blog/IBM-KlickEx-Partnership/
Just to be clear, Stellar / SDF had no input or knowledge of Blockchain's selfie marketing competition. SDF responded on one thread about it.
They partnered with Blockchain to distribute up to 500 Million XLM to Blockchain's ~30 Million global user-base, over the course of months, that's the part to focus on. Since, that alone is a huge shift by Stellar, which has in the past just focused on building key infrastructure and partnerships, not marketing. Again thats $125,000,000 for one campaign to spread awareness and adoption of XLM. All in all, a sign that more things are likely coming down the pipeline for on-ramping new users.
Tens of Millions of new XLM holders will be nothing but good and I'm glad to see the shift towards marketing as evidence that there's more coming down the pipe.
https://www.stellar.org/blog/bringing-lumens-to-millions/
>Giving away lumens to their broad, multinational userbase will grow Stellar where we most want to see growth: at the frontier of crypto adoption. Blockchain’s intuitive wallet is ideal for getting lumens into the hands of the first-time, crypto-curious user as well as more experienced users looking for access to the next generation of cryptoassets.
I still think that people didn't process what happened with IBM. Just look at some statements here:
> Stellar, now part of the Hyperledger project, provides the network and digital asset management to facilitate the settlement of transactions cleared on Hyperledger Fabric. Financial institutions will later be able to choose the settlement network and/or the native asset on Stellar that facilitates settlement with finality in near real time, including central bank-issued digital assets.
Stellar is going to be a good choice for the settlement of any project that uses Hyperledger. This is crazy. Look just at all the Hyperledger members.
And now take a look what the team has been doing with researching legal frameworks for ICOs. The next wave of investment is going to come from all this crazy ICOs pumping billions into Stellar. Why start an ICO on Stellar you ask? Here is why:
- Extremely easy and safe
- Stellar Development Foundation working out the legal stuff
- You can accept payments in any asset traded on Stellar
Stellar is going to dominate the ICO space in the future.
What's that you say; "Stellar has a BUILT in Decentralized exchange, with instant conversions, rocket fast transactions and near Zero fees?!!"
How is this possible and why are more people not talking about this?!
Especially in this time of need for a decentralized exchange that can NOT be "restricted" or "limited" cough Robinhood/Ameritrade cough
https://www.stellar.org/tools?locale=en
Long live Stellar!
Good read! Quick links/highlights:
>Roadmap - https://www.stellar.org/roadmap/
>Meridian - Mexico City (Nov 4-5) https://meridian.stellar.org
>Hiring a head of Brand Marketing and a Head of Communications / Public Relations.
Interesting ending:
>”I can’t help but note that we have a new player in the space with a similar mission — Welcome Libra and Facebook! It’s exciting to see your vision and our collective alignment. We are eager for Libra’s participation in furthering the global conversation around blockchain technology. As you build out your journey, think of us as a partner in your mission.”
I think it's more complicated than that. As I understand it, if both institutions are transacting in stable coin of the two denominations they want to transact in, XLM is not necessary as a bridge, but could still be used. It would look something like this:
-Institution A sends Fiat Token A to Institution B
-Institution B sells Fiat Token A for Fiat Token B
-Institution B redeems Fiat Token B for Fiat B from issuing anchor
Depending on the spread in the order books in the second step there, the pathfinding could lead you though other assets including XLM which will help with overall liquidity on the network.
That being said, every transaction requires an XLM fee and every wallet on the network requires a minimum XLM balance. So regardless it will require XLM in some way. The more transactions and participants needing wallets there are, the more the circulating supply will go down and increase demand, even if it's not in a huge capacity.
There's some confusion here I think.
SDEX that /u/MonsieurNicolas is referring to in his post is built into the core protocol. He's addressing proposed changes to the the protocol itself. His post is not referring to the front-end project announced in this post: https://www.stellar.org/blog/2018-Stellar-Roadmap/ .
Also, StellarTerm is a third-party frontend that allows users to interact with the order books, as does stellarport, interstellar.exchange, etc, but it's linked as SDEX in the article (which I think adds more confusion).
The whitepaper is probably your best resource for this. Its a long read, and technical, but the first few pages can actually give you brief idea of how SCP differs from other consensus protocols. https://www.stellar.org/papers/stellar-consensus-protocol.pdf
Read this: https://www.stellar.org/developers/guides/concepts/inflation.html
Download a desktop wallet, transfer your lumens to your wallet from the exchange you bought them on, and then set your inflation destination to the address of the pool. http://xlmpool.com/en.html
Not at all. XLM's main purpose is as the networks de facto bridge digital asset - providing key liquidity for all tokenised assets.
'Cross-asset payments
Suppose you are holding sheep and want to buy something from a store that only accepts wheat. You can create a payment in Stellar that will automatically convert your sheep into wheat. It goes through the sheep/wheat orderbook and converts your sheep at the best available rate.
You can also make more complicated paths of asset conversion. Imagine that the sheep/wheat orderbook has a very large spread or is nonexistent. In this case, you might get a better rate if you first trade your sheep for brick and then sell that brick for wheat. So a potential path would be 2 hops: sheep->brick->wheat. This path would take you through the sheep/brick orderbook and then the brick/wheat orderbook.
These paths of asset conversion can contain up to 6 hops, but the whole payment is atomic–it will either succeed or fail. The payment sender will never be left holding an unwanted asset.
This process of finding the best path of a payment is called pathfinding. Pathfinding involves looking at the current orderbooks and finding which series of conversions gives you the best rate. It is handled outside of Stellar Core by something like Horizon.'
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https://www.stellar.org/developers/guides/concepts/exchange.html
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$6 Billion Stablecoin USDC Lands On The Stellar Blockchain
> USDC's stellar launch comes after credit card giant Visa V +2.6% revealed in December it would connect its global payments network of 60 million merchants to USDC. Since then the number of USDC tokens in circulation has doubled. > "We want USDC to be as broadly adopted as possible," Circle chief executive and founder Jeremy Allaire said, speaking over the phone ahead of the launch. "Stellar as a blockchain is designed for payments." > The stellar network has processed more than 1.5 billion total operations and last year saw a 104% year-on-year growth in total payments on the network. It's thought that by using USDC on the stellar blockchain, transactions will be faster and cheaper than on ethereum—which can have slow transaction speeds and high transaction fees.
Published on Forbes
> At launch, Stellar USDC is immediately available on Stellar's decentralized exchange, accessible to any Stellar account through integrated wallets (Lobstr, Solar, StellarPort, StellarX, and StellarTerm), and tradeable across Stellar's ecosystem of more than 9,000 assets including stablecoins like NGNT, BRLT, ARST, EURT, TZS and ZAR.
The existing stellar consensus algorithm is implemented in a way that favors fault tolerance and termination over safety. Safety means that not all nodes have to agree on exactly the same ledger state. This could lead to network forks if groups disagree, but stellar has made changes to prevent this.
Take a look at this article from before the update: https://www.stellar.org/blog/safety_liveness_and_fault_tolerance_consensus_choice.
Hey! We added it to the Laboratory!
Here are the instructions:
- Open Laboratory.
- Switch network to public (top right).
- Open Transaction Builder:
- Source Account -> public key of your Ledger account.
- Transaction Sequence Number -> Click "Fetch" button.
- First operation:
- Type -> Set options
- Inflation Destination -> Your selected destination
- Copy XDR from the box below Transaction Builder.
- Open Transaction Signer.
- Paste XDR. Click "Import Transaction".
- Click "Sign with Default BIP Path" in "Ledger Wallet" section.
- Connect your Ledger, enter PIN, open Stellar app.
- Click "Submit to Post Transaction endpoint".
- You will be moved to "Endpoint Explorer". Click "Submit". Done.
From a regulatory adoption standpoint, it has built in compliance features that allow issuers to manage their assets, and it's super simple. Essentially, it's just a series of boxes to tick to control the behavior of your asset. Yeah, I get it, control is bad, but it's good for governments and asset issuers and if you don't like it, hold the ever-uncontrollable XLM and contribute to upcoming AMM pools or whatever.
From a user experience standpoint, an institution can sponsor the account minimums and transaction costs and the user can recover their keys in a trustless way if they're ever lost (https://www.stellar.org/blog/sep-30-recoverysigner-user-friendly-key-management?locale=en). If implemented appropriately, the user never knows they're using crypto. Even built in federated addresses allow you to send to Alice*Lobstr.co and that translates to an address instead of a big long hokey public key. With path payments, the user can hold stablecoins and never have to mess with "crypto", because they can hold USDC, send USDC, and then in the background it auto converts USDC->XLM->EURO, and neither the sender nor receiver have to hold any asset but what they sent or received, and the conversion cost the account sponsor 0.00002 XLM.
There's other cool features, but these are the first that come to mind.
Here are my two xlms....right now the market is filled with a bunch of hype that creates temporary rises in the market. Just visit the historical page for coinmarketcap and you'll see that every year (and many cases month) there are different coins in the top 20. It's almost sad when you see coins that no longer even exist. I bring that up to say that if you research Stellar you'll easily see that they have built a product that is legit. Deloitte integrating Stellar in 2016 shows that the product early on was usable and reliable. People ignorant to business history criticize them for doing giveaways however they easily forget that both PayPal and Dropbox used similar techniques to launch their platforms. Rather than focusing early on marketing and hype, they are behind the scenes making sure the shit works right and the vision is complete.
True adoption and usability are what will not only increase value but set it to a point of sustainability. The current price, in my opinion, is undervalued because most crypto buyers are not researching the companies and technology thoroughly as many of the fellow early Stellar adopters have. In addition, there needs to be a larger understanding of what Stellar is trying to accomplish and the obstacles and red tape that must be achieved to complete it. What they are doing can not be accomplished in months. On-ramps etc take a lot of approvals and to be efficient and worthwhile it needs to be set up in various location throughout the world. THIS TAKES TIME. Stellar more than anyone has the connections to make this happen but give it time. The crypto world was spoiled by the illusion of 2017 and expect prices to skyrocket like that all the time. We'll get there.....one day
Paul from StellarGuard here. I’m working on a “Channel Manager” as a service to manage the complexities of channel accounts behind a developer API. You’ll submit unsigned transactions to the API and get back a new signed transaction with the source account replaced by a channel account.
If this is something that interests you, sign up here to be put on the list for the beta when it’s ready.
Hey lumenauts have you noticed that we are closing to August? And say what?Road map of lightning for Stellar says that we have mile stone on Aug1!:
- Apr 1 BUMP_SEQUENCE pushed to a testnet
- Aug 1 State channels beta implementation
- Oct 1 State channels on Stellar livenet + Lightning Network beta
- Dec 1 Lightning Network on Stellar livenet
I think this one could help us to move over 4K sat. What do you think?
Official option
If you have a clean computer I only recommend Stellar Account Viewer (https://www.stellar.org/account-viewer) which is a web wallet.
I also recommend complementing it with StellarGuard (https://stellarguard.me) by u/doomslice if you need extra security.
Absolute security option
For absolute peace of mind your best choices are Nano S or Trezor.
Curious option
There's also an upcoming wallet by Stellar and Keybase, so that should be a top notch option.
The RCBC article has been public knowledge for a few days. Basically, if IBM is involved, then think Stellar.
As for Alipay, that's interesting. I suspect it's either:
- An in-house solution.
- Something to do with Ripple as "Standard Chartered is the designated settlement bank" and they are a partner of Ripple's.
This thread of XRP guys speculating the absolute crap out of it suggests that no-one really knows anything for sure and there's nothing conclusive to support any of the top cryptocurrencies being used. My guess is an in-house solution.
EDIT: It is kind of interesting though that on the Stellar partners page, it mentions that Stellar uses RippleFox as a CNY anchor in China, allowing users to send money to any Alipay account. There are also two partners based in the Phillipines and Johan Stén of Stellar is a "Champion" based there, whatever that means.
Theme: The Paradigm Shift That We All Know is Coming: Digital Currencies
Moderator: Timothy Spangler, Dechert LLP (An international law firm)
Panelist: * Denelle Dixon, Stellar Development Foundation * Sara Hsu, Forbes * Cuy Sheffield (Vice President, Head of Crypto), Visa
I think that amount is the default amount if you don't set a max
>Amount precision and representation
>Each asset amount is encoded as a signed 64-bit integer in the XDR structures. An asset amount unit (that which is seen by end users) is scaled down by a factor of ten million (10,000,000) to arrive at the native 64-bit integer representation. For example, the integer amount value 25,123,456 equals 2.5123456 units of the asset. This scaling allows for seven decimal places of precision in human-friendly amount units.
>The smallest non-zero amount unit is 0.0000001 (one ten-millionth) represented as an integer value of one. The largest amount unit possible is ((2^63)-1)/(10^7) (derived from max int64 scaled down) which is 922,337,203,685.4775807.
https://www.stellar.org/developers/guides/concepts/assets.html
https://www.stellar.org/foundation/mandate?locale=en
>Total: 12B XLM
>SDF uses lumens in the Direct Development fund to directly develop and advocate for Stellar. On Nov 5, 2019, when this mandate was first announced, 12 billion lumens were allocated to this fund and 3 billion were released for use through 2020 As you can see, the other 9 billion are escrowed and will be unlocked 3 billion per year, beginning in 2021.
One incentive is a vested interest in the security of the network. Quick and trusted network entry point is another as you mentioned. There's a few more. Our docs give a good breakdown the info: https://www.stellar.org/developers/stellar-core/software/admin.html
You can see what we are giving to other parties in that account as well.
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This explains more about the 501c3 stuff: https://www.stellar.org/about/nonprofit-status/
The stellar protocol allows for cross-asset payments so that you can exchange 2 assets through up to 6 intermediaries automatically for the best price. They call this pathfinding in their developer guides. Despite this being part of the protocol, I can't find it's implementation anywhere. I could see it being useful on StellarX to increase liquidity if you pick an asset you hold and an asset you want and it would fill the order through some lower liquidity tokens if they have a good spread. At the very least it would save you the hassle of going from USD token to XLM, then XLM to SLT or something else. Give it more of a marketplace feel instead of need to find specific pairs. Does anyone know if this is something that will happen or any actual implementation of this?
Because it's on their website!
Oct 1. State channels on Stellar livenet + Lightning Network beta
https://www.stellar.org/blog/lightning-on-stellar-roadmap/
It might not be exactly today. But this is their planned day!!
Edit: estimated day
Quick clarification. This video mentions "Stellar use proof of stake" which is incorrect.
Stellar uses the Stellar Consensus Protocol, "a new model for consensus called federated Byzantine agreement (FBA). FBA achieves robustness through quorum slices—individual trust decisions made by each node that together determine system-level quorums. Slices bind the system together much the way individual networks’ peering and transit decisions now unify the Internet"
More info here: https://www.stellar.org/developers/guides/concepts/scp.html
XLM?
Has an inflation system and is not "mined" as they've already been created but get released during the process of inflation.
Someone please correct me if I'm wrong.
https://www.stellar.org/blog/making-cross-border-b2b-payments-easier-in-east-africa-with-clickpesa
“Having ensured their technology is fully compliant and operational on the Stellar network, ClickPesa is now working on direct integration into the top three mobile money operators in East Africa: Tigo, Vodacom (M-Pesa), and Airtel. This means that ClickPesa is now able to leverage the Stellar network to enable someone to send a payment directly from a bank account in Berlin to a recipient’s mobile wallet in Tanzania.”
Apt username:
'We want the world to know about the Stellar network. Communicate. Communicate. Communicate. We want you to know what we care about, what we are doing, and why we are doing it. We have already published our roadmap, but we are committed to making sure that we aren’t sitting in our own bubble. So we are going to talk more about our technology, our products, and all the other work we’re doing.' - Denelle Dixon
>Why should I buy lumens if you are giving them away for free?
As an integrator or anchor (an integrator that is trusted to accept deposits and honor withdrawals, such as a trust company, bank, or a licensed money transmitter), you may need a large quantity of lumens to cover base fees for transactions on the network, to create and use sophisticated smart contracts, and for account creation. As a money transfer operator or market maker, you may buy and use lumens as a bridge asset to facilitate trades of different asset trade pairs on the network.
As a developer or entrepreneur, you may buy and use lumens to learn about cryptocurrency, experiment with operations, and build innovative applications on the Stellar Network.
In the future, after we have given away all the lumens—which will happen over the next 10 years—everyone will need to procure lumens from third parties.
Welcome! Are your lumens still on an exchange? You can’t sign up for the inflation until you get a wallet and move your funds off the exchange. Which wallet you choose is your personal choice. As of right now, Stellar Account Viewer is the only official wallet by Stellar, but depending on your needs and skill set, you may want something else. StellarX is the new official front end to the Stellar network but is still In beta (to be released very soon, probably within a week or two) and when you sign up for that, you can effortlessly join the lumenaut inflation pool there. It’s your choice though. No matter what wallet you choose, please please please send over a few lumens first as a test (like 5 or something) to make sure you are doing it right and your funds got there. If everything goes smoothly, then do another transfer for your remaining balance.
We’re happy to have ya!
There are anchors:
https://stellarterm.com/#markets
There are crypto anchors: BTC, ETH, LTC, XRP... Fiat anchors: EURT, PHP, WSD (USD anchor), CNY, JPY... Soon carbon credits. And so on... You can read about anchors here: https://www.stellar.org/developers/guides/anchor/
Yeah, they are not really focusing on banks at the moment, more remittance companies. And IBM is totally onto Central banks digital currencies.
https://www.stellar.org/developers/guides/concepts/federation.html
It's basically to have a simple username binded to your public key. If people want to send you money, they only have to type in username*fed.network instead of the ultra long public key.
P.S.: The app from their Website is VERY similar to the one one the link from stellar I posted!
Issuer enforced finality:
https://www.stellar.org/blog/issuer-enforced-finality-explained?locale=en
Asset clawbacks:
https://developers.stellar.org/docs/glossary/clawback/
Quorum slices:
Collison used to be on the board (of directors) of SDF, but he left several years ago, and his tweet was from August 2018. So, around 2014-2016?
However, he is still on the board of advisors - https://www.stellar.org/foundation/team?locale=en
There is a third option. Stellar supports pre-authorized transactions by adding the hash of the next transaction as a signer to the account. See here for more details under pre-authorized transactions. https://www.stellar.org/developers/guides/concepts/multi-sig.html
"Recovery" is only possible if the person/entity the assets are sent to are willing to work with you. There is no undo transaction function. This is why it's important to double TRIPLE check addresses before sending transactions.
Human readable addresses (name*domain) through federation is meant to help people share payment details without having to type in an account ID. More support for federation should hopefully allow for less individual payment problems (like sending to wrong addresses) in the future.
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StellarX isn't yet officially out, so we can't say for sure what the differences will be.
One thing's for sure, StellarX will use the same SDEX data as all the other SDEX UIs.
>With all these SDEX coming out for stellar, how do you choose which one to trade on?
Try them all? (only the official ones on https://www.stellar.org/lumens/wallets/ ) . See which one suits you personally. Some are easier to use but lack more advanced features. Some are more popular than others so easier to get help if you are stuck. Do your own research. We could come up with a comparison chart but we'll be way too biased.
>I do like that you can issue your KYC information at your own discretion and the UI/UX looks beautiful.
Thanks
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It's 1% (per year, roughly 1/52% per week or 0.00019 x your amount each week) so will slightly increase each time. Also the amount of transactions/operations currently on the network have a small affect on the weekly payout.
https://www.stellar.org/developers/guides/concepts/inflation.html#inflation
Your Snapple typo threw me way, way off! Stellar info for anyone else confused. Official site.
Sounds like another altcoin to me, just in larger hands. If it were being funded and backed by a big bank I'd be worried about it overtaking btc, but this doesn't strike me as a particularly promising plan.
The USDC is intended to support the growth of the Stellar network and ecosystem, for example working capital loans to payment companies based in Stellar USDC. The details are covered in this blog: https://www.stellar.org/blog/leveraging-on-chain-assets-to-support-the-stellar-ecosystem
This is a major reason for the move and support from major banks etc.. Just my opinion.
FinCEN's proposed Digital Asset Transaction Rule - SDF Blog (stellar.org)
Re: validators
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Improving the validator experience is a top priority of ours right now. We are working on fixing the exact things you mention, clearer guides for getting set up, faster to get synced, easier configuration,etc. We will be rolling out these improvements over the next weeks. As for the tx limit that is being improved in protocol 11 (https://www.stellar.org/blog/protocol-11-improvements-stellar) which should be live on the 10th.
The first Stellar's blog said "95% of the stellars will be distributed for free as quickly as we can manage." But something went wrong. https://www.stellar.org/blog/introducing-stellar/
Yeah, they just recently added a built in Stellar wallet.
Stellar also funds the development of Keybase.
https://www.stellar.org/blog/keybase-and-stellar-partnership/ https://keybase.io/blog/keybase-stellar
Possible Coinbase listing, upcoming FairX launch... these might all happen before Lightning is live (expected on December 1st according to the timeline) and these both have the potential to raise the demand for XLM
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Thanks @Opositor127, I appreciate your donation. SDF established the Support Award program lately, and they do support the project.
Transaction fees are collected and distributed along with the inflation.
https://www.stellar.org/developers/guides/concepts/inflation.html
So as more transactions = more 100 stroops being collected = more lumens distributed!
I wonder, if the second firm could be Stellar: "RCBC said it will partner with IBM and another firm to provide the blockchain infrastructure." http://bworldonline.com/rcbc-to-launch-blockchain-remittance-service-in-japan/
According the older Stellar blog, they target Philippines: https://www.stellar.org/blog/global-partnerships/
Stellar is a DLT and runs on the Stellar Consensus Protocol. From what I understand, since Hyperledger Fabric doesn't have a native token on the network, it uses the Stellar network as its settlement layer for value transactions.
The foundation holds a large amount of XLM that they use in a number of ways, including distributing it to Bitcoin holders, anchor partners, developers, etc. There is a large number of XLM that have not yet been distributed.
You can read an explanation here that explains what they hold and how they distribute it.
Here are more details on how the BTC distribution works.
Sorry if i repeat things you already know. DEX stands for Decentralized EXchange, which already exists and is built into the Stellar protocol. https://stellarterm.com/ and https://stellarport.io/ are two examples of community built user interfaces that allow you to interact with the exchange (both work great already, btw). SDEX will be Stellar's (SDF) own front-end to the decentralized exchange. It was first announced in their roadmap https://www.stellar.org/blog/2018-Stellar-Roadmap/. It's being built by experienced designers and presumably it will be very polished, similar to exchanges like Binance. The implications are that any ICO and token on the Stellar network will have a safe and user-friendly place to be traded. It has huge potential b/c many have speculated that all types of financial assets (stocks, bonds, commodities, etc) will soon be tokenized and thus tradable.
I think Stellar is a very perspective platform with a lot of built-in capabilities. It is also cheaper on a transaction level, and Stellar consensus protocol is more efficient than Proof of Work or Proof of Stake.
You can check stellar road map https://www.stellar.org/blog/lightning-on-stellar-roadmap/
About Jed, Yes we in contact with him.
Looks like a pretty weak twist to set up yet another pump and dump.
Also, about half the people behind Stellar have never done one thing that wasn't for personal gains so yeah... This is very unimpressive.
Validators vote on protocol upgrades. Public Node allows their members to vote on how the Public Node validators should vote on these upgrades.
Fund distribution is already defined in the SDF Mandate.
What is your proposal?
“Inflation” ended a while ago:
https://www.stellar.org/developers/guides/concepts/inflation.html
Staking is not a thing (more recently it’s a term associated with scam emails), but check out Abra or AnchorUSD for interest on XLM deposits.
For privacy: they're working on it. I don't have a link off the top of my head, but I think I recall them mentioning it during Meridian.
For user friendly key management, see SEP-30 https://www.stellar.org/blog/sep-30-recoverysigner-user-friendly-key-management?locale=en
https://www.stellar.org/blog/2018-Stellar-Roadmap/
We are half way through 2019; the 2018 roadmap only had 2 goals, the SDEX & lightning network. I know the team has made tremendous progress on privacy; is there any update on how the lightning network implementation is going & why its taken so much longer than anticipated?
One theory I have on why the LN implementation has taken so long is because the team realized that privacy was a bigger concern than scalablity.
The team page is not live yet on the new site. Assuming you're wondering about Advisor and board status - this page is still accurate (pending the addition of one advisor). As far as individual team members, you can track those in our past newsletters.
I think it's important to note that fees can be adjusted by validators. This link discusses is at more length https://www.stellar.org/developers/guides/concepts/fees.html if you'd like to dig a little deeper.
Is it possible to raise fees depending on number of transactions ?
E.g : - 100 stroops < x transactions; - 200 stroops x < XX - 300 stroops XX < XXX
Base on : https://www.stellar.org/developers/guides/concepts/fees.html
« Transaction Limits
Each Stellar node usually limits the number of transactions that it will propose to the network when a ledger closes. If too many transactions are submitted, nodes propose the transactions with the highest fees for the ledger’s transaction set. Transactions that aren’t included are held for a future ledger, when fewer transactions are waiting. »
>I also suggest you keep the IRS privy to your organizational changes as changing your stated exempt purpose could compromise you ability to operate as a 501c3.
As a point of correction, SDF is not a 501(c)(3). It is a non-profit, however. The term "501(c)(3)" and "nonprofits" are often used interchangeably, albeit incorrectly. The confusion comes from 501(c)(3) frequently being non-profits as well. The former is an IRS designation for tax exemption (as you correctly point out) while the later is a business formation under state law. In 2015 SDF did apply for 501c3 status, but I'm not sure what ever came of it. I can think of a few reasons why it was impractical to pursue it, but it's just speculation. At the time they also had a fiscal sponsor allowing them to receive tax deductible donations, but it wouldn't make sense to have that arrangement today. SDF is doing just fine financially. In any case, from a governance point of view, being a "non-profit" is what I think most of us think and care about.
Isn’t Western Union already backed out? The way I understood is that none of the Ripple’s partnerships, except for SBI Holdings, want anything to do with XRP, correct me if I wrong.
I would rather see a blockchain with 1 partnership that has many other partnerships that planned to use XLM then many partnerships through Ripple that got nothing to do with XRP. Usage is key here.
Beside, Stellar got more than 1 partnership: partnerships list
Recent partnership:
“The good news for the Stellar network and Stellar Lumens (XLM) holders keeps on coming. TransferTo, a leading B2B mobile payment network and airtime hub serving Western Union, 7 Eleven, Paypal, MoneyGram and more, has partnered with the Stellar Foundation in order to facilitate cross-border mobile payments on the Stellar network.” Source
https://www.stellar.org/developers/guides/concepts/inflation.html
>The Stellar distributed network has a built-in, fixed, nominal inflation mechanism. New lumens are added to the network at the rate of 1% each year. Each week, the protocol distributes these lumens to any account that gets over .05% of the “votes” from other accounts in the network.
Stellar là một giao thức phi tập trung cho phép bạn gửi tiền cho bất cứ ai trên thế giới, cho các phân số của một xu, ngay lập tức, và bằng bất kỳ loại tiền tệ nào. / r / Stellar là tin tức, thông báo và thảo luận liên quan đến Stellar. Vui lòng tập trung vào nội dung hướng đến cộng đồng, chẳng hạn như tin tức và thảo luận, thay vì nội dung hướng đến từng cá nhân, chẳng hạn như câu hỏi và trợ giúp. Thực hiện theo [Nguyên tắc cộng đồng Stellar] (https://www.stellar.org/community-guidelines/).
Very nice summary :) As a developer, I have to confirm that Stellar project and its technical background is one the most promising projects out there. Recently SDF announced 7th Stellar Build Challenge and let me add some of the game-changing projects here:
Social trading: A platform such as eToro to be built on the stellar's network.
Peer-to-peer wallet: This wallet would facilitate peer-to-peer payments without the need for anchors. It could be used to make small payments all over the world.
Also, we have <strong>Lightning Network</strong> and SDEX planned to be available this year. So bright future is waiting for all of us! Cheers!
A “stroop” is the smallest amount unit. It is one ten-millionth: 1/10000000 or 0.0000001. The term stroop is used as a convenient way to refer to these small measurements of amounts. The plural form is “stroops” (e.g. “100 stroops”). Fun fact: this term is derived from Stroopy, the name of the Stellar mascot whose name is derived from stroopwafels.
Source: https://www.stellar.org/developers/guides/concepts/assets.html
XLM will indeed dominate the remittance industry with IBM as they emerge from the Pacific Island- Click on the link to see 2015 perspective of remittances within countries that KlickEx, Stellar and IBM deal will cover. Will the value to $ increase for sure as it needs to meet the demand ......http://www.pewglobal.org/interactives/remittance-map/ : Remittance Map https://www.stellar.org/blog/IBM-KlickEx-Partnership/ : Countries in the IBM/Stellar/KlickEx deal
One big point is the use of compliance servers to verify transactions. It's a bit like multi-sig wallets but automated.
Your compliance server uses the compliance protocol to clear the transaction with the recipient’s compliance server, then lets the bridge server know the transaction is ok to send.
https://www.stellar.org/developers/guides/anchor/4-compliance-server.html
This is a much more realistic approach to eCommerce.
App is already working but waiting for feedback from the Ledger developers. They did promise me that they would take a look and start integrating it soon. But who knows. The thing needed from Ledger is that the app can be loaded from their device manager. Right now you need a fair bit of computer know-how to load it onto your device.
Second thing that needs to be done is a wallet that connects to the Ledger Stellar device app. I'm working on integrating it in the account-viewer. I might also add the support to StellarTerm. This isn't the problem however. I already got everything working. Biggest problem is Ledger devs are extremely busy right now.
Stellar does not make any such claim. Their website talks about nothing but making other money cheap and accessible to transfer as quickly as possible. They are even setup as an organization that legally doesn’t need to chase profits. Anyone assuming the foundation is aiming for a certain price increase is just projecting their own desires into the coin.
> If XLM doesn't care about price, let folks know and they'll take their money elsewhere.
They do tell us.
https://www.stellar.org/foundation/mandate?locale=en
> SDF has no shareholders, no dividends, and no profit motive.
There's more to it. You can create your own coin onto of the network and use it how you want to. Ukrane is starting use cases. https://www.stellar.org/blog/association-of-ukrainian-banks-admits-sdf-as-member
We might have the makings of a world currency with countries existing on one network.
They started making automated market makers. We have the framework for the stock exchange to exist on steller.
Question, regarding the recurring "Delay" effect on the rise of XLM price.
Is there a possible technical reason as to why this would occur?
I personally doubt it and I do not hope for a pump and dump, as I believe in the overall goal of Stellar. I do however believe that XLM is relatively undervalued and USDC will effect price.
Full Disclosure; I'm a Junior Dev and I'm interested in learning all I can about Stellar and I frequently read over the Developers Documents on https://www.stellar.org/ hoping something will stick (It hasn't yet I currently write 'shitcode' but here's hoping).
Thanks for any response or guidance!
If you've been reading between the lines (i.e. recent hires), a marketing push is imminent.
Today's Stellar podcast (episode #25) talked about an upcoming restructuring of the Stellar Community Fund into two tiers after the current round (#5) ends on August 10th. Have a listen - there is a mention of "marketing" connected to this, too. Seems smart to me, as it separates the smaller-scale (hackathon-style, often shelved) projects from those that go on to be ecosystem cornerstones. Some companies will require millions of Lumens not to sell them to fund themselves, but to create millions of accounts for the arrival of the masses.
Patience.
As a user you would not have to do anything. If this change goes through it means that the inflation operation itself will always return opNOT_SUPPORTED if someone were to try to trigger it.
>Wouldn't a high XLM price be bad for integrators since now they have to pay a fee to use the network?
Not necessarily. With the base fee being 0.00001 XLM, even a huge sum of transactions upwards to millions of dollars won't even be $1000 worth of fees. Compare that to today's money transfer fees, you will be saving hundreds of thousands of dollars if you use Stellar.
From the link I posted above also, it explains how these fees actually get refunded into the weekly inflation. So as long as those integrators are connected to an inflation pool, they will a chunk of XLM back because the weekly inflation is 1% + transactions fees in that week.
> If I will not have any response to my serious question I begin to think to be here presupposes a sort of criminal identity.
Oh no! You should delete your account immediately! Who knows, maybe government reads your Reddit posts right now... Most people just ask and they get answers, no need to throw mud at the technology and its community.
Seriously, this topic was discussed here multiple types in various forms. Search for terms "compliance" and "allow_trust".
In short, there are regulated and non-regulated assets. Regulated assets are issued by the anchors who want to play fair. Eventually, governments will introduce the clear set of regulations and those anchors will get the official green light in a form of a license/mandate/certificate of some kind. Non-regulated assets will tend to some form of utility tokens officially approved by international organizations. All other assets designed for non-regulated p2p payments, scams, or criminal settlements will move to completely anonymous blockchains like Monero.
Stellar has Compliance Protocol, ALLOW_TRUST operation, and multi-signatures for building anchors with regulated assets.
Following up on this comment: There are many other SDKs that can also be used to interface with the horizon API. Have you taken a look at our documentation yet? https://www.stellar.org/developers/horizon/reference/index.html
And here's the documentation for issuing assets: https://www.stellar.org/developers/guides/issuing-assets.html There's also this blog that gives an overview of the process: https://www.stellar.org/blog/tokens-on-stellar/
I think it's good to point out how important these build challenges are. SBC6 had 324 submissions. A mix of 324 teams and individuals were able to contribute to improving the Stellar network and many were rewarded for doing so.
If you look at the 2018 Roadmap you'll see there's actually an interesting bit about this project which at the time was simply referred to as the "SDEX."
Here is a screenshot highlight some of the details from the roadmap. I went ahead and highlighted some interesting bits. But to answer your question, the Stellar Foundation commissioned the team to create what we now know to be StellarX.
Just for fun, I highlighted some snippets at the bottom. We know that carbon credits have officially been issued on the Stellar network. With a little bit of speculative could this imply that oil futures are also on the table in the near future?
I thought the for-profit Lightyear was set up by SDF to be responsible for creating momentum towards broader adoption of Stellar, but they're not doing education, marketing, or promotion either, at least not publicly. I recall them being the entity responsible for creating the SDEX UX/UI, but again, we get no roadmap, no news, nothing.
Worse, all the media appearances I've seen of Jed lately have been terrible; he obviously doesn't like doing them, doesn't prepare, and has no innate skill at explaining his work to broader audiences. It's understandable if Jed only want's to work on his creation without distractions, but like you I wonder why he doesn't he hire a team to do this stuff.
It can change to adjust. The minimum balance of a basic account is calculated by 2 * the base reserve. The base reserve at the moment is 10, thus now the minimum balance now is 20.
> Fee Changes > > The base reserve and base fee can change, but should not do so more than once every several years. For the most part, you can think of them as fixed values. When they are changed, the change works by the same consensus process as any transaction. For details, see versioning.
https://www.stellar.org/developers/guides/concepts/fees.html